Education Management Corp (EDMC) Tops Q3 EPS by 2c

Education Management Corp (NASDAQ: EDMC) reported Q3 EPS of $0.16, $0.02 better than the analyst estimate of $0.14. Revenue for the quarter came in at $595.2 million versus the consensus estimate of $592.26 million.

"The current operating conditions continue to be challenging, as evidenced by enrollments being down across post-secondary education. As a result of our expectations for a continuation of the challenging operating environment in the near-term combined with the strategic changes that are being made across our education systems, we are adjusting our financial outlook for the remainder of fiscal year 2014," said Edward H. West, Education Management's president and CEO. "We believe these changes to concentrate on programs where we see solid student outcomes and demand, and our continued efforts to improve efficiencies and lower the cost structure are the right course of action for the long-term benefit for our students. Our entire organization remains focused on providing our students an affordable, quality education to position them for success in their chosen fields."

For earnings history and earnings-related data on Education Management Corp (EDMC) click here.

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